CIEL statement on New York Attorney General lawsuit filed against ExxonMobil

CIEL supports the New York Attorney General's lawsuit against ExxonMobil, asserting that the company misled investors about the financial and regulatory risks climate change poses to its assets and operations. The statement highlights that the lawsuit, based on three years of investigation, implicates high-level executives, including former CEO Rex Tillerson, and signals an increase in climate-related litigation against fossil fuel companies.

• The New York Attorney General filed a lawsuit alleging that ExxonMobil defrauded shareholders by downplaying the expected risks of climate change to its business, specifically regarding products, profits, assets, and its future.
• The lawsuit claims ExxonMobil used deceptive economic analyses and misleading statements to hide its financial vulnerability to climate regulation and the necessary phase-out of fossil fuels, with misconduct allegedly sanctioned at the highest levels, including former CEO Rex Tillerson.
• CIEL views this legal action as a warning to global markets and boardrooms that investment in fossil fuel companies carries significant, material risks and predicts a new wave of climate litigation against oil and gas companies.

APA

Muffett, C. (2018). CIEL statement on New York Attorney General lawsuit filed against ExxonMobil. Center for International Environmental Law. https://www.ciel.org/news/ciel-statement-on-new-york-attorney-general-lawsuit-filed-against-exxonmobil/

Chicago

Muffett, Carroll. CIEL statement on New York Attorney General lawsuit filed against ExxonMobil. Center for International Environmental Law, 2018. https://www.ciel.org/news/ciel-statement-on-new-york-attorney-general-lawsuit-filed-against-exxonmobil/.

Wikipedia

{{cite press release |last1=Muffett |first1=Carroll |title=CIEL statement on New York Attorney General lawsuit filed against ExxonMobil |publisher=Center for International Environmental Law |date=24 October 2018 |url=https://www.ciel.org/news/ciel-statement-on-new-york-attorney-general-lawsuit-filed-against-exxonmobil/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{muffett2018ciel, author = {Muffett, Carroll}, title = {{CIEL statement on New York Attorney General lawsuit filed against ExxonMobil}}, publisher = {Center for International Environmental Law}, year = {2018}, month = oct, url = {https://www.ciel.org/news/ciel-statement-on-new-york-attorney-general-lawsuit-filed-against-exxonmobil/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }